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Hong Kong Freight Transport Report Q2 2015 Description

Following a year that BMI believes saw strong growth in all freight modes but one, 2015 will signal further improvement across the whole of Hong Kong's freight transport sector.

According to BMI's forecasts, the port of Hong Kong will resume growth in box volumes in 2015 after three years of decline, when performance was hindered by a forty day strike, recession in the eurozone, the sluggish nature of US economic growth, the slowing outlook for the Chinese economy, the move of Chinese factories further inland and competition from the neighbouring port of Shenzhen, as some of these factors are expected to ease.

US demand is set to continue recovering in 2015, while we believe the eurozone's economy will maintain growth - albeit at a slow pace. Development in both major economies will have a positive effect on throughput at Hong Kong's port, which operates as a container shipping hub for Asia, and also the country's air freight volumes, with Hong Kong boasting the busiest cargo airport globally.